HashKey Trading Time: BTC may still be affected by geopolitics in the short term. After ETH fell, a whale buy the dips$127 million. The market is paying attention to the support level of $2,320.

1. Market Observation

Keywords: Iran, Israel, ETH, BTC

Global financial markets have recently been frequently experiencing risk events, with geopolitical tensions continuing to be tense. Israel launched an air strike on multiple nuclear facilities and military targets within Iran this morning, naming the operation "Lion's Strength", which dramatically increased international risk aversion, causing gold and oil to surge instantly. Meanwhile, an Indian airline Boeing 787 experienced its first air crash en route to the UK yesterday, resulting in over 240 fatalities and causing Boeing's stock price to drop over 6%. The domestic situation in the United States is equally turbulent, with ongoing riots in Los Angeles leading to 378 arrests, partial curfews, and protests against illegal immigrant arrests beginning to spread to other regions. In terms of monetary policy, despite Trump's repeated calls for a 200 basis point rate cut and expressing support for Tesla, the Federal Reserve has maintained its high-interest rate stance since December 2024, with Chairman Powell remaining resolute. Based on the latest CPI data and US May core PPI data, the market expects the Federal Reserve to begin rate cuts in September this year, with potentially two rate cut opportunities throughout the year.

In this complex macroeconomic environment, Jeffrey Ding, Chief Analyst at HashKey Group, points out that the global crypto asset market will experience a critical turning point from retail-driven to institutional-led in the first half of 2025. Bitcoin once reached an annual high of $110,000 in May, with continuous institutional fund inflows driving crypto assets from speculative items to asset allocation tools. Against this backdrop, crypto concept stocks have performed strongly, with US stocks like Coinbase and Circle, as well as multiple Hong Kong and A-share related targets, recording significant gains. Circle, in particular, surged 167% on its first day of listing on June 5th, becoming a market focus. He believes that the resonance logic of crypto assets and concept stocks is primarily driven by three key factors: first, major global economies are accelerating the improvement of regulatory frameworks, enhancing market transparency and fund inflow stability through compliance; second, continuous institutional fund inflows are reshaping market pricing mechanisms, with giants like BlackRock driving long-term asset allocation through tools like Bitcoin ETFs; third, technological innovation is optimizing infrastructure, promoting market valuation logic towards technological attributes. Additionally, stablecoin compliance is accelerating, with the US GENIUS Act and Hong Kong's Stablecoin Regulations further reshaping financial infrastructure. He emphasizes that future investment will focus on compliance barriers, technological depth, and scenario implementation capabilities to uncover "crypto value creators" with long-term value.

However, affected by the Middle East situation, the Bitcoin market experienced a significant callback this morning, breaking below the $103,000 mark. Caroline Moren, co-founder of Orbit Markets, analyzes that cryptocurrencies maintain consistent trends with major risk assets, expecting Bitcoin to find technical support around $101,000, but short-term price trends will primarily be influenced by geopolitical situations. For Ethereum, although the price dropped below $2,500 with a 24-hour decline of 9.2%, institutional investors are still actively positioning. Notably, an address potentially associated with ConsenSys again purchased 2,825 ETH via OTC this morning, with the address accumulating 160,736 ETH (worth $421 million) over the past two weeks. Another institutional investor who previously profited $30.45 million from two ETH swing trades used $127 million USDC to buy the dips, purchasing 48,800 ETH within 6 hours. According to the B2BINPAY analysis team report, if ETH price breaks below $2,320, it might test the $2,000-$1,800 range, but is more likely to continue rising in the short term. If ETH breaks through $2,793, it could trigger a new round of increases, with potential target prices reaching $4,000; even with short-term callbacks, it is expected to potentially break $3,000 in July or August, with year-end targets maintained at $4,000.

In market dynamics, the AI project $IRIS launched by Nethermind and Virtuals opened with a market cap near $100 million, currently adjusted to $53 million. Meme coin AURA also experienced an adjustment from a $200 million high to $133 million. Notably, after $HYPE from HyperLiquid token reached a new high, Canadian listed company Tony G Co-Investment Holdings increased its holdings of 10,387 HYPE at an average price of $42.24. On the other hand, Nasdaq-listed SharpLink Gaming saw its stock price plummet 70% after-hours on June 13th due to submitting an S-3ASR registration statement allowing shareholders to resell nearly 5.87 million shares related to PIPE financing. Although company board chairman Joseph Lubin clarified this was a standard procedure after PIPE trading and not an actual sell-off, the market reaction remained intense.

2. Key Data (as of June 13, 12:00 HKT)

Today's Top 500 Market Cap Gainers: Venom（VENOM）up 28.04%, NEXPACE（NXPC）up 15.89%, Orbs（ORBS）up 13.00%, Aerodrome Finance（AERO）up 12.80%, WhiteRock（WHITE）up 11.57%.

5. Hot News

• Anthony Pompliano is about to lead the listed company ProCapBTC to raise $750 million to purchase Bitcoin

• Canadian listed company Tony G Co-Investment Holdings purchases approximately $440,000 worth of HYPE tokens

• FTX/Alameda redeems and distributes 188,000 SOL from staking to 30 addresses in the early morning

• Israel air strikes Iran, Defense Minister declares national emergency

• In the past 24 hours, the crypto market network liquidated $1.017 billion in contracts, mainly long positions

• US Senate to hold final vote on GENIUS stablecoin bill on June 17

• Report: 74% of family offices have allocated or are considering allocating digital assets

• "ETH 100% win rate whale" with 40,000 ETH short position currently has an unrealized profit of $9.42 million

• US SEC delays approval decision for Dogecoin, Hedera, and Avalanche spot ETFs

• DeFi Development obtains $5 billion equity credit line to increase Solana holdings

• BlackRock will incorporate crypto assets into its 2030 strategic vision core

• DTCC considers issuing stablecoin to promote digital asset settlement

• Trident plans to raise $500 million to establish enterprise XRP vault and appoint strategic advisors

• US initial jobless claims for the week ending June 7 were 248,000

• Binance launches 22nd HODLer airdrop project DeFi App (HOME)

• Binance Wallet 23rd TGE will list SGC

• Ant Group will apply for stablecoin licenses in Hong Kong and Singapore

• First Financial: Virtual currency LABUBU is not officially issued by Bubble Mart, warning against cryptocurrency trading risks

This article is supported by HashKey, HashKey Exchange is the largest licensed virtual asset exchange in Hong Kong and the most trusted crypto asset fiat gateway in Asia. Committed to defining new benchmarks for virtual asset exchanges in compliance, fund security, and platform protection.